BLOG

Retail in 2021 | Retail Technology Trends Spearheading Digital Transformation in the New Normal

Feb 19, 2021

In 2020, especially during the initial stages of the pandemic outbreak, we witnessed many retail companies taking giant leaps forward through digitalization to establish a robust online presence. As a result, the pace of digital transformation in retail increased, with advanced analytical and technological enablers that opened up new opportunities for retailers willing to invest in retail technology.

Contact us to learn more about the retail technology trends impacting retail in 2021.

Retail in 2021

What retail technology trends will spearhead digital transformation in 2021?

Contactless Communication Technology – Near field communication (NFC) payments

NFC-based mobile payments were almost the norm during the pandemic, and since then, most businesses have adopted contactless technology to offer a better customer experience. Self-checkout facilities with contactless payment options enabled a safer and convenient shopping experience for the masses. ‘Being on the most sought-after retail technology trends of 2020, NFC-based payments are here to stay and play a crucial role in defining retail in 2021,’ said a retail analytics expert at Quantzig.

Request a free proposal to gain solution insights and personalized recommendations on how retail analytics can add value to your business.

Artificial Intelligence – Virtual tryons augmented with AR and VR capabilities

Artificial intelligence will redefine retail in 2021. Both online and offline retailers can capitalize on this retail technology to improve their omnichannel retailing approach. Enhanced omnichannel capabilities augmented with AR and VR technologies will blur the lines between online and offline channels bringing together the best of both worlds, said an analytics expert at Quantzig.

retail in 2021

With new habits established during the pandemic, many new retail technology trends such as AI will continue favoring online shopping, and advanced analytical capabilities will help retailers capitalize on these trends. AI-enabled applications with virtual try-on features, chatbots, and recommendation engines that empower the retail workforce are just a few examples of retail technology trends transforming this sector. To better understand the technology trends transforming retail in 2021- Request more information from an expert.

Robotic Process Automation – Autonomous robotic deliveries

With digital technologies reshaping retail in 2021, driverless vehicles and drones will hold a top spot in accelerating retail transformation. Notably, leading US retailers that have already begun experimenting with this technology have received a positive response from the masses. Automation is also enabling retailers to enhance inventory management and fulfillment processes in distribution centers and warehouses. Given all the advantages of this retail technology, Robotic Process Automation (RPA) is one of the most important retail technology trends that will witness widespread adoption and transform retail in 2021 due to its ability to drive value and agility across the retail value chain. It also increases compliance, service quality and reduces the time spent on repetitive, non-value-adding daily tasks such as navigating through various applications and windows.

When we consider what is now possible from a technological viewpoint and how quickly new processes and tools can be implemented when there is a requirement, 2021 looks set to be a transformative year for the retail industry.

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Workforce Management Trends of 2021

Workforce Management Trends of 2021

Driven by the disruption of COVID-19 and enabled by technology, the world’s business leaders can redesign workforce management and redefine ways of working. Organizations are now rethinking workforce management, planning, performance, and experience strategies. Now,...

read more
Tech Trends 2021

Tech Trends 2021

After disruptions caused by the coronavirus crisis starting in 2020, businesses are looking forward to getting back on course and becoming sustainable. 2020 has created havoc and made holes in long-standing norms about how companies operate. It has become evident that...

read more
Sustainable Supply Chain and Big Data Analytics

Sustainable Supply Chain and Big Data Analytics

Sustainability concerns are sprouting up in every industry. A growing population of consumers now prefer eco-friendly and sustainable businesses. Organizations are striving to address this concern, while improving internal systems and processes, by developing supply...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.